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Did You Lose Money with Former JPMorgan Chase Bank, Na Broker Trevor Rahn?

Posted on Wednesday, October 30th, 2019 at 10:08 am    

JPMorgan Chase Bank, Na

Erez Law is currently investigating former JPMorgan Chase Bank, Na broker Trevor Rahn (CRD# 2196155) regarding unauthorized trading in customer accounts. Rahn was registered with JPMorgan Chase Bank, Na in Los Angeles, California from 2010 to 2018, when he was terminated regarding, “unacceptable practices by the representative relating to the timing and size of orders entered and resulting transaction charges in a client account and relating to the marking of certain orders for the account as unsolicited.”

Rahn has been the subject of four customer complaints between 2016 and 2019, according to his CRD report:

June 2019. “Customer alleges that the trading activity increased dramatically and resulted in losses and significant tax obligations. Activity dates January 2014-September 2015. Subsequent correspondence received on 06/12/2019. Customer alleges financial advisor engaged in a pattern of unauthorized trading and margin use in customer’s account in order to generate commissions, and resulting in losses to customer. Activity dates January 2014 – November 2015.” The customer is seeking $854,410 in damages and the case is currently pending.

November 2018. “Customer previously alleged that the number of transactions in the account were unauthorized and that claim was settled. Subsequent correspondence received asserting additional demands related to the same account. The overall time period is 03/2014-09/2017.” The customer sought $1,137,915 in damages and the case was settled for $114,000. The case was regarding equity OTC, closed-end funds, and real estate investment trusts (REITs).

November 2017. “Customer alleges that the number of transactions was unauthorized. Activity dates 08/2017-09/2017.” The customer sought $5,000 in damages and the case was settled for $64,590. The case was regarding closed-end funds.

October 2016. “In October 2015, the administrators of a client’s estate requested the transfer and liquidation of positions that were then transferred and sold. Later, the administrators of the estate alleged that they were not made aware of the fees for liquidating the estate account and that the fees were excessive.” The customer sought $5,000 in damages and the case was settled for $57,847. The case was regarding common and preferred stocks.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, JPMorgan Chase Bank, Na may be liable for investment or other losses suffered by Rahn’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.